EastGate Physical Therapy Inc. is planning its cash payments for operations for the first quarter (January-March)....

 

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EastGate Physical Therapy Inc. is planning its cash payments for operations for the first quarter (January-March). The Accrued Expenses Payable balance on January 1 is $33,700. The budgeted expenses for the next three months are as follows: January February March Salaries Utilities $77,500 $94,400 $104,500 6,400 7,100 8,400 Other operating expenses 59,700 65,100 71,600 Total $143,600 $166,600 $184,500 Other operating expenses include $4,200 of monthly depreciation expense and $1,000 of monthly insurance expense that was prepaid for the year on May 1 of the previous year. Of the remaining expenses, 75% are paid in the month in which they are incurred, with the remainder paid in the following month. The Accrued Expenses Payable balance on January 1 relates to the expenses incurred in December. Prepare a schedule of cash payments for operations for January, February, and March. EastGate Physical Therapy Inc. Schedule of Cash Payments for Operations For the Three Months Ending March 31 January February March Total cash payments EastGate Physical Therapy Inc. is planning its cash payments for operations for the first quarter (January-March). The Accrued Expenses Payable balance on January 1 is $33,700. The budgeted expenses for the next three months are as follows: January February March Salaries Utilities $77,500 $94,400 $104,500 6,400 7,100 8,400 Other operating expenses 59,700 65,100 71,600 Total $143,600 $166,600 $184,500 Other operating expenses include $4,200 of monthly depreciation expense and $1,000 of monthly insurance expense that was prepaid for the year on May 1 of the previous year. Of the remaining expenses, 75% are paid in the month in which they are incurred, with the remainder paid in the following month. The Accrued Expenses Payable balance on January 1 relates to the expenses incurred in December. Prepare a schedule of cash payments for operations for January, February, and March. EastGate Physical Therapy Inc. Schedule of Cash Payments for Operations For the Three Months Ending March 31 January February March Total cash payments

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January Beginning Accrued Expenses Payable 33700 January Expenses Salaries 77500 Utili... View the full answer